New Stadium Details And Discussions

[CantSmileWithoutYou]

Never seen this before. Lot's of new detail shots.
Edit: Music's making me feel like I'm watching Interstellar again

Just watched it. Phenomenal video. Everyone should watch this *but might want to turn the sound down after a couple of minutes (*tip. It doesn't change)

 

[Lee82]

We've got planning permission for 16 events per year, plus as many football matches as we like, and no need for permission for minor events with fewer than 10,000 attendees (e.g. the esports stuff that was rumoured).

Does a Rugby Football match count as one of the 16 or can we get it through as a football match

It’s an interesting development anyway. I wonder if we are paid a fee for the matches or if we receive a split of the revenue etc

Also I assume it will be on the artificial surface as the Saracens already play on one. Again though that’s assuming it’s the same type of artificial pitch. If so that’s potentially a key reason behind what attracted Saracens to the stadium.

 

[coys200]

So if Levy is now saying £1bn is about right and the loan facility is £630m does that mean we’ve paid £400m or am I missing something ?

 

[Lee82]

So if Levy is now saying £1bn is about right and the loan facility is £630m does that mean we’ve paid £400m or am I missing something ?

What exactly did he say? And where did you get it from?

 

[CantSmileWithoutYou]

@LexingtonSpurs, you have just shot up in my estimations with this one. Quality.

 

[davidmatzdorf]

So if Levy is now saying £1bn is about right and the loan facility is £630m does that mean we’ve paid £400m or am I missing something ?

I think the arithmetic is about 100 times more complicated than that. There is no such simple formula that will give an accurate picture of the capital costs and the borrowing to meet those costs.

The single biggest factor in that complication is that a large amount of the headline capital cost, especially the land assembly and the planning application, were incurred many years ago, paid for and dealt with in previous accounting years. These costs won't be involved in the total of current borrowing, because they were paid for and capitalised (or written off) long ago.

 

[andy00900]

Interview with Levy from the pre match media session at the stadium, https://www.standard.co.uk/sport/fo...or-perfection-to-make-spurs-the-a4107591.html

Says the project estimation up to £1bn from £750m, this is everything not just the stadium.

 

[spud]

Exclusive interview with Chairman, Daniel Levy : https://www.tottenhamhotspur.com/sp...erview-with-chairman-daniel-levy/?mobile=true

I was tearing up when he said 'welcome home' at the end.

I really hope that all of you who will be there understand just how fucking lucky you are.

 

[slartibartfast]

I think he arithmetic is about 100 times more complicated than that. There is no such simple formula that will give an accurate picture of the capital costs and the borrowing to meet those costs.

The single biggest factor in that complication is that a large amount of the headline capital cost, especially the land assembly and the planning application, were incurred many years ago, paid for and dealt with in previous accounting years. These costs won't be involved in the total of current borrowing, because they were paid for and capitalised (or written off) long ago.

Yeah but that doesn't make as good a headline now does it lol.
£1Billion (includes costs of Spurs first board meeting where idea was first put forward inc cost of tea and biscuits)

 

[spursfan77]

It will be interesting tomorrow to read the comments of the visiting Palace fans to see what they say about the away end. Quite interested to see what the provisions are like for their fans internally, especially after seeing how basic we have made the away dressing room.

 

[slartibartfast]

It will be interesting tomorrow to read the comments of the visiting Palace fans to see what they say about the away end. Quite interested to see what the provisions are like for their fans internally, especially after seeing how basic we have made the away dressing room.

Is the away dressing room a portacabin in the underground car park.
Glad I'm too old to play now. Some of those changing rooms in the dead of winter.... uurrggghhhh.

 

[samspurs92]

Feels like Christmas Day today.

Anyone else know that they’ll be really emotional just before kick off when ‘COME ON YOU SPURS’ is being sung by 60,000 Spurs brethren?

Got goosebumps just thinking about it.

 

[adamsky]

Cannot believe I am actually going to the new stadium to see the game today. Have followed this thread for years, watched every Chris Cowlin video, got excited about the most minor build developments, and it feels surreal to to know will finally be there.

 

[nailsy]

Happy Going Home Day everyone.

 

[spursfan77]

This is a good read.

 

[coys200]

I think he arithmetic is about 100 times more complicated than that. There is no such simple formula that will give an accurate picture of the capital costs and the borrowing to meet those costs.

The single biggest factor in that complication is that a large amount of the headline capital cost, especially the land assembly and the planning application, were incurred many years ago, paid for and dealt with in previous accounting years. These costs won't be involved in the total of current borrowing, because they were paid for and capitalised (or written off) long ago.

Don’t really agree David. It’s pretty simple to state overall cost of the stadium build and how much we’ve paid and how much is debt. If I build a house from scratch and someone asks me what it costs I would include everything land legal fees architect etc. Just because I may have paid the architect 2 years before I don’t exclude him from the final total. There seem to be different quotes what levy said yesterday. I saw he was asked if the stadium cost £1bn and he answered “ we aren’t currently sure of the total cost but it will be around that “

 

[dagraham]

To anyone of you that have been to the test events, have you spotted anywhere ( either in the South or preferably the East Stand) that I can get a Guinness? I’ve seen a few pictures on line, but I don’t think it’s going to be feasible tonight to be exploring too much.

 

[McFlash]

To anyone of you that have been to the test events, have you spotted anywhere ( either in the South or preferably the East Stand) that I can get a Guinness? I’ve seen a few pictures on line, but I don’t think it’s going to be feasible tonight to be exploring too much.

I love that, amid all the tension and excitement of tonight, some are still holding on to what's really important in life. Getting their favourite pint.

 

[davidmatzdorf]

Don’t really agree David. It’s pretty simple to state overall cost of the stadium build and how much we’ve paid and how much is debt. If I build a house from scratch and someone asks me what it costs I would include everything land legal fees architect etc. Just because I may have paid the architect 2 years before I don’t exclude him from the final total. There seem to be different quotes what levy said yesterday. I saw he was asked if the stadium cost £1bn and he answered “ we aren’t currently sure of the total cost but it will be around that “

This bit reinforces my point. Of course you don't exclude it from the final total. But you very likely paid the early architects' fees from cash, so it doesn't appear in your borrowing totals.

I happen to be in that precise situation with a project right now: paying for early development costs before even arranging a borrowing facility. None of these costs will affect the eventual borrowing, although they're in my cash flow. That's why you can't do a simple calculation of the sort you outlined. The costs are too historical - many have been written off or capitalised long ago.

A more important point is the confirmation in Levy's interview - for at least the 5th time, although the media routinely ignore it because "£1bn"makes such a good headline - that "the stadium itself is estimated to have cost around £450m" and that £1bn is the approximate cost of "the overall project, which will eventually include an 180-bed hotel and 579 apartments".

It's not incidental that the whole world thinks we're walking into a £1bn building this evening. It's purely intentional and malicious. The press always distort development costs to make them seem as if every project has run wildly over budget. Always. And it's always bullshit, as it is here. £450m for a stadium of this size and specification isn't even unusually expensive!

 

[SirHarryHotspur]

To anyone of you that have been to the test events, have you spotted anywhere ( either in the South or preferably the East Stand) that I can get a Guinness? I’ve seen a few pictures on line, but I don’t think it’s going to be feasible tonight to be exploring too much.

Bricklayers Arms is probably your best bet.